All Topics / Help Needed! / Ex-Student Accommodation

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  • Profile photo of gnggng
    Member
    @gng
    Join Date: 2011
    Post Count: 35
    May 23, 2011 - 2:47 am

    Ok, so I've found an apartment.  It may be neutrally geared, within my budget but the problem is that is an ex-student accommodation or I just need to give 90 days notice to terminate the scheme or lease and can then be owner occupy or lease through external agent.  Is a 2 BR and more around 58sqm

    Assuming I can get finance for it?  Is there any downside to it? Is there anything else I need to consider? I know there's not much growth if it's a student accommodation or service apartment, but it is not anymore.

    Profile photo of Jacqui MiddletonJacqui Middleton
    Participant
    @jacm
    Join Date: 2009
    Post Count: 2,539
    May 23, 2011 - 4:41 am

    Hi there

    Does it actually have a kitchen and bathroom?  If not, you have to add these things, which comes at a cost.  Also it will take space away from the existing rooms.

    Unfortunately, if most of the building is student accommodation, this apartment will be tarred with the same brush.  In other words, it will suffer poor capital growth just the same.

    Jacqui Middleton | Middleton Buyers Advocates
    http://www.middletonbuyersadvocates.com.au
    Email Me | Phone Me

    VIC Buyers' Agents for investors, home buyers & SMSFs.

Viewing 2 posts - 1 through 2 (of 2 total)

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